The Hit List is a look at our current swing trading positions. Stocks we are already in have “triggered”, while those we are considering for plays have not triggered. Click post title to view print-friendly link.
LLL, EL, UNT closed, EGO & WLP added
Open Position Notes:
No open positions.
Closed Positions:
LLL moved higher off the open today, but along with the market reversal, it slid steadily lower into the afternoon. With the closing bell approaching though, the market had started to stabilize, so I moved to exit this position and book the 1.5% winner in an effort to reduce short exposure into the market weakness of the past few days.
EL was also off to a strong start this morning, but made a decisive move lower with a steady trend into the afternoon. As yesterday’s lows were approached, the stock began to stabilize (along with the market), so I closed the position for a 4.1% winner. It may still continue lower, but with the market having sold off, the odds for a bounce are increasing and I’m trying to stick and move in this tape.
UNT moved higher this morning, but ultimately gave it all back and moved into negative territory with the market reversal. This stock had approached yesterday’s lows, and with the broad market starting to stabilize, I felt it was best to book the 5.2% winner and eliminate my short-sided exposure into weakness.
